IEMOP, operator of the Wholesale Electricity Spot Market, linked the lower spot market prices to decreased power demand during the period as a result of the rainy season and tropical depression Dodong.
The lower WESM rates will be reflected in the billing of power utilities and electric cooperatives in August. “So far, we do not see any unforeseen outages. I think we will see further downtrend especially toward the end of this year. It is cooler toward the fourth quarter,” Cacho said. Spot prices in Mindanao saw a slight increase of P0.49 per kWh to P3.83 per kWh from P3.34 per kWh in June.It said the tamer power demand levels also resulted in reduced imposition of the secondary price cap at the WESM.
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